Ireland supports utilizing frozen Russian assets to fund Ukraine as European leaders attempt to reach a consensus on the issue amid concerns Ukraine may run out of money by April of next year. Foreign Affairs Minister Helen McEntee stated it is the Government’s preference to fund Ukraine through these assets, calling Russia’s invasion “illegal.”
EU Divisions Over Russian Asset Funding
EU foreign ministers are meeting to discuss the use of up to €210 billion in immobilized Russian assets to support Ukraine’s military and financial needs. While Ireland and most member states favor this approach, Belgium remains unconvinced. Italy, Malta, and Bulgaria have suggested exploring alternative funding methods, such as joint EU borrowing. Hungary and Slovakia are outright opposed to utilizing Russian assets or providing further support to Ukraine.
EU foreign policy chief Kaja Kallas acknowledged that negotiations are becoming more difficult, stating, “We are not there yet, and it is increasingly difficult, but we’re doing the work and we still have some days.” She affirmed a commitment to reaching a resolution before the EU summit on Thursday and Friday.
Ukraine’s Financial Outlook and NATO Aspirations
Ukraine is facing a critical financial situation and is expected to exhaust its funds by April. President Volodymyr Zelensky has indicated Ukraine could consider abandoning its NATO ambitions if robust security guarantees from the US, Europe, and other allies are established to prevent future Russian aggression.
Zelensky has resisted demands, supported by the Trump administration, for Ukraine to cede parts of the eastern Donbas region to Russia. Kallas warned against such concessions, stating that allowing Russia to control Donbas would embolden further aggression and endanger other regions.
International Discussions and Ongoing Conflict
Discussions are underway in Berlin between Zelensky and US President Donald Trump’s envoy Steve Witkoff, and his son-in-law Jared Kushner, hosted by German Chancellor Friedrich Merz. French President Emmanuel Macron, UK Prime Minister Keir Starmer, Polish Prime Minister Donald Tusk, and NATO Secretary General Mark Rutte, along with other EU leaders, are also participating. European Commission President Ursula von der Leyen and European Council President Antonio Costa will join the meeting as well.
Meanwhile, Russia’s Defence Ministry reported downing 130 Ukrainian drones overnight, including 15 targeting Moscow. Moscow Mayor Sergei Sobyanin stated four more drones were intercepted this morning. Ukrainian drone attacks have periodically disrupted operations at Moscow airports, including Domodedovo and Zhukovsky, and airports in southern Russia.
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